Report Shows Tonnes of e-Waste Production by Bitcoin Mining
Bitcoin mining is necessary to maintain ledger transactions upon which Bitcoin is based, and a recent study unveiled the production of tonnes of electronic waste due to the procedure. It is noted that every year, 30.7 metric kilotonnes of waster is generated, which is higher than small IT equipment waste generation by nations such as the Netherlands.
A Growing Threat to Environment
Creating new bitcoin annually benefits the miners but at the same time consumes massive energy amounts, generating the bulk of electronic wastes.
The study states, "E-waste represents a growing threat to our environment, from toxic chemicals and heavy metals leaching into the soil, to air and water pollution caused by improper recycling."
This procedure devices have an average time of only 1.29 years, and recently it has put a lot of pressure on miners to run only energy-efficient chips.
Ongoing Global Chip Shortage
Several small and large-scale industries face a tough time due to the ongoing global chip shortage, disrupting semiconductor supply chains. Researchers pinpoint that generating the colossal amount of e-waste and significant cycling via mining devices plays havoc with various e-device chains. The waste problem will significantly grow if the bitcoin rate rises continuously, incentivizing investment in and ASIC hardware replacement. A solution to it is to shift conventional transaction methods to an energy-efficient system.
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